Tips For a Faster Financial Close

BlogMarch 14, 2017

If you're an accounting professional, you know the drill – closing the books at the end of your company’s financial cycle is rarely a quick task. Plenty of obstacles stand in the way, such as non-standardized data, chasing down numbers from multiple accounting systems, and hours of manually keying numbers into a spreadsheet. On top of that, your financial manager or CFO probably needed those numbers yesterday.

A good way to approach these types of accounting snags is to find a platform that automates some of the tasks you typically spend the most time doing. Data entry in Excel would likely top that list, as that process alone can take hours, without including how long you might spend simply waiting for updated numbers while trying to close your books.

Not All Solutions are Created Equal

While there are certainly plenty of automation options available that can save you from the seemingly endless mire of manually inputting numbers into an Excel spreadsheet, not all of them are created equal. Many of them rely on cloud-based data warehouses to store loads of information. While the cloud is often an ideal method of data storage, it can sometimes pose security issues and a data warehouse may not provide the most streamlined approach to data access.

Working with live data pulled directly from your organization’s ERP system (Oracle, JD Edwards, Microsoft Dynamics, Infor, for some examples) drastically speeds up reporting processes, allowing your personnel resources to have time to focus on other pressing tasks.

Save Time with Spreadsheet Server

Not only does insightsoftware's Spreadsheet Server do this, but it can also connect to multiple databases and ERPs to get disparate data into one spreadsheet. You’ll save hours of time on report production, not to mention the time you’d normally spend chasing down all that data to get started. On top of that, Spreadsheet Server provides data security while allowing you to remain in the familiarity of Excel – not an "Excel-like" interface.

Some of the reporting tasks supported by Spreadsheet Server include:

  • Financial accounting
  • Sales and distribution
  • Manufacturing
  • Construction
  • Property management
  • Quality control
  • Purchase orders
  • Inventory

With over 75,000 users around the globe, Spreadsheet Server is the world’s top platform for Excel reporting and automation. To learn more, read our whitepaper and see how we can help you reach a faster, smoother financial close.

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